Foreign Partners US LLC

EIN or ITIN

Non-US individuals often want to know the fastest and easiest way to obtain an EIN or ITIN.  I find a lot of misunderstanding about the two numbers. First you need to understand that EIN and ITIN are similar numbers that serve different purposes and have different requirements. EIN-Employer Identification Number. An employer identification number (EIN) Read more about EIN or ITIN[…]

How are US taxes calculated dividends and gains for a non-resident investor

There are a few specifics you need to consider as you read the following answer for non-resident investors paying US tax. Dividends will generally be considered FDAP Income (Fixed, Determinable, Annual Periodic), taxed at a fixed rate for a non-resident. Effectively Connected Income (ECI) will be taxed differently than straight income from investments. Assuming you are just an Read more about How are US taxes calculated dividends and gains for a non-resident investor[…]

Tax

Married couple work as independent contractors form an LLC?

Question: Married couple live in California, both work as independent contractors, should they form a Delaware LLC and elect to be taxed as a corporation since the corporate tax rate is only 15% on the first $50,000 of profit. Answer by Wray Rives CPA CGMA: First off there is no scenario where just forming an Read more about Married couple work as independent contractors form an LLC?[…]

Should I file my startup in Delaware if it’s located in Texas?

My answer to Should I file my startup in Delaware if it’s located in Texas? Answer by Wray Rives CPA CGMA: If you will operate your Texas startup from Texas, you will have to be registered in Texas no matter what. The only reason to register in DE is because you intend to seek outside Read more about Should I file my startup in Delaware if it’s located in Texas?[…]

Can a US citizen and employee sue his Australian employer for non-payment of IRS employment taxes?

My answer to Can a US citizen and employee sue his Australian employer for non-payment of IRS employment taxes? Answer by Wray Rives: First make sure that in fact your Australian employer is subject to US tax reporting and US employment tax. Employment Status Number one are you in fact an Independent Contractor (Self-Employed) or Read more about Can a US citizen and employee sue his Australian employer for non-payment of IRS employment taxes?[…]

Posted in Tax